China's $827 Million Push for All-Solid-State Battery Innovation

China plans to invest approximately 6 billion yuan ($827.87 million) in a government-led initiative to boost research and development in all-solid-state batteries. Key companies like CATL, BYD, FAW, SAIC, and Geely may benefit from this support. These batteries offer improved safety and efficiency but face challenges like high costs and material constraints.

China may invest about 6 billion yuan ($827.87 million) in an "unprecedented" government-led project to encourage research and development in all-solid-state batteries, the official China Daily reported on Wednesday.

Among the six companies that might receive government basic research and development support are CATL, BYD , FAW, SAIC and Geely , the report said.

Solid-state batteries enable improved safety, a longer lifespan and faster charging compared with conventional lithium-ion batteries that use flammable liquid electrolytes, but constraints in raw material availability, intricate manufacturing processes and resultant high costs are mass adoption roadblocks. ($1 = 7.2475 Chinese yuan renminbi)